CEDA's new finance product for SMMEs

Citizen Entrepreneurial Development Agency(CEDA) has introduced a simplified group funding to give opportunity to Small, Medium, Micro Enterprises to access funding without hassle.The new funding scheme named Mabogo-Dinku allows micro enterprises in a group of five to fifteen individuals in a group operating their own businesses to access funding.

Launching the scheme on Tuesday, CEDA Chief Executive, Thabo Thamane said unlike other CEDA products, the engagement and activities of this product follow clients where they have chosen to assemble according to their convenience without necessarily going to CEDA offices.“As the agency we launch Mabogo-Dinku with a high-level of confidence that it will provide greater social and economic impact to many Batswana who work very hard to create income for themselves and sustain the livelihood of their families,” said Thamane.

The product has been designed with unique features which include simplified application documentation, no detailed business plan required, no tangible security required and has shorter turnaround time. And it encourages savings culture.